Wooden Decking | Innovations & Market Recovery

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Wooden Decking Innovations Market Recovery
In recent years, the demand for wooden decking
has increased for residential as well as
commercial and industrial purposes. As per our
analysis, the global wooden decking market is
likely to develop with a CAGR of 4.82 during the
forecast years from 2022 to 2028. Rapid
urbanization, elevated demand for housing, and an
increase in remodeling activities due to rising
living standards, are some of the key factors
driving the markets growth.
Robust Construction Sector Key Growth
Influencer Wood decking is widely employed in the
residential sector for newly constructed
dwellings and also for maintenance renovation
purposes. Americans spend over 400 billion on
home renovations and repairs every year, as per
the Harvard Joint Center for Housing Studies. The
strong demand and the availability of plentiful
resources in the United States have aided the
growth of the North America wooden decking
market, which accounted for the highest share
globally in 2021. Moreover, the rise in
commercial and infrastructural projects around
the globe, such as the development of hospitals,
schools, government facilities, airports,
seaports, terminals, etc., has also boosted the
demand for wooden decking. In addition,
governments across the world are implementing
supportive policies and plans for the development
of affordable homes. As a result of the rising
housing
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infrastructure demand, coupled with the need
for repairs renovation, massive investments are
being made in the construction industry. This is
anticipated to strengthen the wooden decking
market. Wide-scale Adoption of Acetylated Wood In
recent years, significant advancements have been
made in the field of wood modification, prompted
by rising environmental concerns and enhanced
demand for high-quality wood products.
Acetylation is a chemical process used to provide
specialized properties to wood, such enhanced
durability and dimensional stability. Hence,
several companies are increasing their acetylated
wood production. For instance, Eastman Chemical,
one of the leading cellulose acetate makers in
the world, acetylates wood at its chemical
complex in Kingsport, Tennessee (the United
States). Furthermore, Accsys Technologies
acetylates wood in Arnhem, Gelderland (the
Netherlands), and also licenses its acetylation
technology to third parties. In Triton Market
Researchs report, acetylated wood is studied
under the other product types segment, and is
expected to grow at a CAGR of 4.06 during the
forecast period. Countering the Threat of
Substitutes Traditionally, wood has been the most
common decking material. However, wood
substitutes like metal, PVC, rubber paver tiles,
concrete, and other composites, are also being
increasingly preferred. Composite decking
comparatively requires less maintenance and is
designed to be more durable. Besides, wood is a
more expensive decking material. The growing
demand for the aforementioned alternatives has
opened up new opportunities for their
manufacturers, while also lowering buyers
switching costs. This, however, is a major hurdle
in the path of market growth. To regain users
attention, wooden deck manufacturers can provide
deck installation and maintenance services, which
include chemical treatment periodic maintenance
of wood planks, panels, pillars, and decorative
components. Market players can also leverage the
advantage wood provides over composite decking
materials during summer, as composites are less
resistant to heat, given their density. Custom
solutions and tech integration are also some
innovative measures to capture customer interest.
In October 2021, TimberTech partnered with the
premier online landscape design platform,
Yardzen, to simplify the process for homeowners
looking to design custom outdoor decks.
Incorporating digitally connected processes and
diversifying supply sources will thus provide
companies with lucrative growth
avenues. Preference for Green Constructions With
the growing focus on sustainability, green
construction initiatives are increasing all over
the world. These buildings are constructed with
environment-friendly materials, at zero-emission
construction sites, and are energy-efficient. In
2021, India emerged as one of the worlds leading
nations to have green and sustainable buildings
and projects, ranking third on the United States
Green Building Councils annual list of the top
10 countries outside of the US for Leadership in
Energy and
Environmental Design.
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France is also promoting the use of eco-friendly
components in building construction to limit
emissions and ensure sustainability. Whereas,
Argentina has initiated its green building
movement with more than 300 projects already
being registered. Also, Lusail City, is a
futuristic sustainable city being planned in
Qatar, as part of a 45 billion project. The
rising demand for green buildings, coupled with
increasing construction activity, is expected to
drive the demand for wooden decks. This, in turn,
will bolster the development of the overall
wooden decking market. FAQs Q 1) What are the
revenue estimates for the global market? The
global wooden decking market was valued at
20161.16 million in 2021 and is expected to
reach a revenue of 27936.26 million by 2028. Q
2) Which are the segments studied in the market
report? Product Type, Application, and End-user
are the main segments studied in the wooden
decking market report.